First American Introduces Procision Automated Valuation Suite
Procision uses machine learning and a blended ensemble modeling approach.
Procision uses machine learning and a blended ensemble modeling approach.
Down 14.4% in July from a year earlier, declining home sales are a symptom a cooling housing market.
CEO says company reduced staff as it focuses on expense management.
With waning affordability and rising mortgage rates purging the market, both LendingTree and First American saw a recent uptick in adjustable rate mortgages.
As the market adjusts to a post-pandemic norm with higher mortgage rates, housing market potential will subside from recent highs, according to First American.
House prices are now 52.9% above the housing boom peak in 2006.
There are two trends locking homeowners in place and preventing much-needed housing supply from reaching the market.